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Robinhood Reports Fourth Quarter and Full Year 2021 Results There are 0 replies:
Robinhood Reports Fourth Quarter and Full Year 2021 Results Original post: Wed 2/9/2022 at 3:15 PM

Robinhood Reports Fourth Quarter and Full Year 2021 Results

The trading and social investing platform eToro announced it will finally be launching its website in U.S. The platformwhich is available in more than 140 countriesaround the world, will now be available in 30 states and 2 territories, with plans to expand beyond the U.S. after receiving the necessary regulatory sign-offs.

The U.S. platform will only accept trading in crypto assets at launch, but eToro plans to introduce additional asset classes over the course of the next twelve months. The existing markets on eToro are where the company's 10 million+ users are able to invest in and hold more that 1500 different asset classes as well as markets which include bonds, stocks and cryptocurrencies, as well as fiat currencies, commodities and more.

While eToro even supports more advanced trading strategies , including short-selling and leverage, the platform's transparency as well as community engagement features are great tools for beginners to learn the capital markets as well as how to trade.

EToro is equal parts social network, trading platform for education and trading platform. Anyone who signs up for eToro is able to view, comment on as well as copy the trades and actions of all others on the network, as well as their real-time returns and losses to date (though only in a percentage-based basis to secure sensitive financial information). While studying the strategies of their peers or using the platform, users can utilize virtual currency to learn and practice before actual risking their money.

However, based off a trader's past performance, other users may decide to imitate their portfolios by using the "CopyTrader" feature, which not only proportionally allocates funds to match the trader's portfolio, it can also create any trade the copied investor performs. Furthermore it allows members to comment, share, engage with or follow certain users, assets or markets, making it possible for them to take part in the latest discussions and news on their particular field of interest.

However, despite being restricted to cryptocurrency at first, many of the same features available in the existing geographical markets will be available on the U.S. And alongside crypto trading log book trading platform and services, the company has launched their digital multi-signature eToro wallet, which users are able to store, send, and receive multiple coins across a multitude of crypto currencies.

Utilizing these eToro clients, U.S. users can transfer cryptocurrencies into and from their trading accounts. They have the ability to easily convert between as well. The wallet is initially able to support Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple and Stellar for U.S. users, but the company will make additional currencies available in the near time.

EToro users can conduct transactions that allow them to share trading information and performance of their portfolios with other EToro users and allow users to share concepts that are implemented using real dollars

The expansion plan, however, doesn't come without risk. EToro ventures into a competitive market -- in conjunction with popular trading platforms , such as Coinbase as well as Robinhood -- and is launching its crypto-only version in the midst of "crypto winter," where widespread weakness has plagued the sector.

A portion of the strategy can be due to the fact that cryptocurrency is considered to be a less costly asset from a licensing standpoint and other investment classes within the highly restrictive and fragmented U.S. regulatory environment. But the company's plan to launch its product is also in the firm's belief in the huge market potential associated with the tokenization of assets.

"We think [the tokenization of assets] is a bigger opportunity than the internet and we have to be in the U.S. when it happens, given it's the financial hub in the world," eToro founder and CEO Yoni Assia told a conversation with TechCrunch.

EToro has an opportunistic approach to its strategies and doesn't get sucked by the current cryptocurrency weakness. Assia described the market's weakening in the wake of the dot-com crash, that despite the downfall, the internet still permeated and created disruption in the long run. Much like the internet, Assia along with eToro believe that there will be more than enough room for multiple winners in the wider crypto industry.

It was the first market that was able to work with Ethereum and Ripple and is confident that as the two currencies are similar and the future generation of investors mature, eToro will be there to help them wherever they are in whatever way they need.

"When I founded eToro, I envisioned a community where people could trade, invest and share their knowledge in a simple and transparent way," said Assia. "EToro also acts as a bridge between the old world of investing and a blockchain-powered future, helping our users navigate and benefit from the transition to crypto assets for wealth building."

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